Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
After export and assessment of shipping bills, reassessment is unavailable except through recognised legal modes such as appeal, finalisation of provisional assessment, exporter-requested amendment, or correction of clerical error; the declared value and description in already exported goods cannot be reopened. The note further states that DEPB credit is linked to FOB value and transaction value, so customs redetermination of assessable value does not justify denial of DEPB benefit or recovery of duty through used scrips. It also explains that goods already exported fall outside confiscation powers for export goods, and that penalties fail when the underlying duty demand is unsustainable or when false declaration is not established.
After export and assessment of shipping bills, reassessment is unavailable except through recognised legal modes such as appeal, finalisation of provisional assessment, exporter-requested amendment, or correction of clerical error; the declared value and description in already exported goods cannot be reopened. The note further states that DEPB credit is linked to FOB value and transaction value, so customs redetermination of assessable value does not justify denial of DEPB benefit or recovery of duty through used scrips. It also explains that goods already exported fall outside confiscation powers for export goods, and that penalties fail when the underlying duty demand is unsustainable or when false declaration is not established.
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